That stands for guaranteed lifetime withdrawal benefit. Have you heard of these? You’ll also find this popular contract rider with some equity-indexed annuities. Before I did some deep analysis, I constantly had clients telling me that it sounded too good to be true. Well, it is in a lot of ways.
Owning a business means that you are willing to commit an initial amount of capital to purchase the business and then monitor your investment over time. The minimum amount of homework that you need to do in owning a business is to attend quarterly teleconference calls with the scott levy fuel and analysts, read the quarterly and annual SEC filings (10-Q and 10-K) and read the news about the company and the competition online or in print publications.
The wonderful thing about vacations is that we get that uninterrupted time to spend together, talking, laughing, and best of all, escaping the lure of the computer or the television. But we can recreate that environment in our homes by creating technology free evenings, where we all do something together that does not involve a screen. When families play video games or watch movies, no real conversations take place. But when we play board games, or work on a craft, or even work on our own hobbies in the same room, we can talk and enjoy each others’ company. So make sure at least once a week you have this downtime to spend with your families. If, at the end of the day, you can look back and realize that you did have quality time together, that emptiness that often causes grumpiness will disappear!
So, the income benefit is a guaranteed $200K but as far as the account value goes, your guess is as good as mine. It may be more or less. With a 3% annual fee, the account must gain at least 10% to keep up with the guaranteed income benefit. Has the market ever done that? Have you ever seen the market hit exactly 10% annually for ten straight years? It has not. The market has done better and it has done worse. Sounds kind of like rolling the dice. Thank God for that GLWB.
Despite its rather radical nature, the Germans actually voted on such a proposal in 2003 and 2008, it’s been discussed seriously in Japan and the Hungarian government is currently considering it.
From time to time, it is a good idea to just have a casual conversation with your customers and followers. Hold a wacky talent contest on the Hangout. Discuss kids, families, work, local sports teams. Engage them in a friendly debate about the best TV show or new book that you’re reading. Spend some quality time getting to know your customers outside of the sales arena. These are the people that make your business a success, so show them that you care!
By far my favorite rule is el grandote numero quarto. Start big by creating a vision of the future of the company. Then narrow the focus as you get back to present and address what to do immediately and how to implement.
Ultimately it’s about understanding the power of mindset and positioning are the true reasons behind success in Network Marketing. This is how I turned my business around after much trial and error and I continue to help others to do the same. Why? Because it is possible to succeed in Network Marketing. You don’t need to quit, you just need to change your way of thinking.